Euro Rises With Franc on Emerging-Market Flows; Rupiah Tumbles
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The euro and franc strengthened as slides in Asian stocks and currencies signaled investor repatriation of assets from emerging markets.
The dollar extended a drop against the majority of its most-traded peers after a measure of U.S. economic activity was weaker than forecast. The yen strengthened for the first time in three days against the dollar. India’s rupee fell to a record and Indonesia’s rupiah slumped to the lowest level since April 2009 on concern funds will flow out of Asian markets as the Federal Reserve reduces its bond-purchase program.